VANCOUVER, Jan. 11, 2019 /CNW/ - InMed Pharmaceuticals Inc. ("InMed" or the "Company") (TSX:IN; OTCQX:IMLFF), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary platform technologies to develop novel therapeutics for the treatment of diseases with high unmet medical needs, today announced that Dr. Sazzad Hossain, PhD, MSc, will assume a position as member of the Scientific Advisory Board ("SAB") and, contemporaneously, announced his retirement as Chief Scientific Officer ("CSO"). Dr. Eric C. Hsu, PhD, Vice President, Pre-Clinical Research & Development, will continue to lead the scientific R&D programs of the Company.
Dr. Hossain stated, "InMed's continued success in developing cannabinoids to treat serious diseases is vital to me. Unfortunately, given recent personal health concerns, I wish to modify my role to that of a scientific advisor. I look forward to continuing my involvement with the entire team at InMed." Dr. Hossain concluded, "I believe the Company is in a very strong position to advance important potential treatments to patients with high unmet medical needs."
Eric A. Adams, the Company's President and Chief Executive Officer, commented, "It goes without saying that Dr. Hossain has been influential in building the Company; we are fortunate to continue to benefit from Dr. Hossain's expertise as a member of our SAB. Dr. Hsu, in conjunction with our entire scientific team, will continue to execute on the Company's many development programs. Chief among our scientific executive team are Alexandra Mancini, our long-tenured Senior Vice President, Clinical & Regulatory Affairs, and our recent addition of Mike Woudenberg as Vice President, Chemistry, Manufacturing & Controls."
Mr. Adams continued, "As the scientific founder of InMed, Dr. Hossain has provided InMed with several drug development candidates and the fundamental know-how in selecting, validating and developing cannabinoid-based medicines. This contribution to the Company will continue to provide a strong scientific foundation for years to come. We look forward to Dr. Hossain's continued involvement with the Company."
InMed is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed's proprietary bioinformatics database drug/disease targeting tool, cannabinoid biosynthesis technology and drug development pipeline are the fundamental value drivers of the Company. For more information, visit www.inmedpharma.com
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is based on management's current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this news release includes statements about: developing novel therapeutics for the treatment of diseases with high unmet medical needs; Dr. Hossain serving as a member of the Scientific Advisory Board and his continued involvement with the Company; Dr. Hsu continuing to lead the scientific R&D programs of the Company, together with the scientific team; and the expected fundamental value drivers of the Company.
With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: Dr. Hossain's continued availability; the continued availability of Dr. Hsu and the rest of the scientific executive team; continued and timely positive preclinical and clinical efficacy data; the speed of regulatory approvals; demand for InMed's products; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies.
Additionally, there are known and unknown risk factors which could cause InMed's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: Dr. Hossain may cease to be willing or able to serve the Company; Dr. Hsu or other members of the scientific executive team may cease to be willing or able to serve the Company; preclinical and clinical testing may not produce the desired results on a timely basis, or at all; regulatory applications may not be approved on a timely basis, or at all; suitable partners may not be located; economic or market conditions may worsen; and InMed's proprietary bioinformatics platform, biosynthesis manufacturing process and drug development programs may not deliver the expected level of results nor become the fundamental value drivers of the Company. A more complete discussion of the risks and uncertainties facing InMed is disclosed in InMed's most recent Annual Information Form and other continuous disclosure filed with Canadian securities regulatory authorities on SEDAR at www.sedar.com.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
NEITHER THE TORONTO STOCK EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE InMed Pharmaceuticals Inc.
For further information: Investor Contact: InMed Pharmaceuticals Inc., Josh Blacher, Chief Business Officer, T: +1-646-452-7045, E: [email protected]